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In the wake of acquiring rival GMI Software Systems, Chicago-based SunGard Futures Systems has decided to invest in and support both the GMI and Octagon Trade Management products.
In January, SunGard Data Systems, the parent company, acquired GMI Software, Inc. for an exchange of SunGard common stock valued around $30 million. The deal catapults SunGard into a dominant market share position in futures trading systems. GMI, which currently serves over 135 customers worldwide with operations in Chicago, Hong Kong, London, New York and Sydney, has an estimated 80 percent market share. According to Mark Breillout, vice president of FIMAT Banque, which is a global GMI customer, "GMI is the only provider able to clear all the markets."
According to Gary Bishop, senior vice president, sales and marketing, SunGard intends to provide two complete seamless global systems, both the GMI and Octagon Trade Management System. In addition, there are plans for further investment in...